Hess Midstream LP

HESM

Hess Midstream LP

HESM

Insider Sentiment (TTM):

Last Purchase:-Last Sale:2025-08-12Shares Purchased (TTM):0Shares Sold (TTM):0

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:113,027,238Shares Outstanding:129,200,000Institutional Ownership Pct.:87.48%

Earnings Market Reaction:

Filing Date:2026-08-06Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Common Class A	-	128	0	-63	34	601	104	-11	-402	404	18	-302
Common Class B	-	78	78	-1	-20	99	114	-93	64	144	158	-15
Assets
Cash And Cash Equivalents At Carrying Value	5	5	2	6	5	6	4	10	100	4	5	3
Accounts Receivable Net C…
Accounts Receivable Net Current	143	149	144	145	138	137	135	128	110	128	123	122
Prepaid Insurance	-	-	-	8	-	-	-	-	-	-	-	-
Other Assets Current	1	5	7	4	2	3	6	13	2	5	7	12
Assets Current	157	166	159	168	151	150	149	154	214	139	137	138
Equity Method Investments	83	80	82	85	85	86	87	89	89	89	90	91
Property Plant And Equipment Gross	5,416	5,385	-	-	-	-	-	-	-	-	-	-
Accumulated Depreciation Depletion And Amortizatio…	-2,117	-2,063	-	-	-	-	-	-	-	-	-	-
Property Plant And Equipment Net	3,299	3,322	3,370	3,376	3,345	3,324	3,325	3,292	3,237	3,215	3,229	3,208
Advances To Affiliate	-	-	0	0	0	-	0	0	0	0	0	0
Deferred Income Tax Assets Net	714	745	774	804	837	698	583	605	502	411	324	329
Other Assets Noncurrent	4	5	4	5	5	6	6	7	8	8	9	9
Assets	4,257	4,317	4,388	4,438	4,423	4,264	4,151	4,147	4,050	3,863	3,790	3,776
Liabilities
Accounts Payable Trade Current	32	30	25	40	32	26	56	43	38	31	39	28
Accounts Payable Current	29	23	27	53	44	40	34	45	42	21	41	36
Accrued Liabilities Current	98	89	89	90	102	92	94	104	88	86	106	89
Long Term Debt Current	38	35	33	30	28	25	23	20	18	15	13	10
Other Liabilities Current	8	5	14	11	7	4	14	10	7	4	12	11
Liabilities Current	204	181	188	224	214	186	219	221	192	157	210	174
Long Term Debt Noncurrent	3,643	3,737	3,740	3,765	3,687	3,547	3,449	3,470	3,443	3,310	3,199	3,138
Deferred Income Tax Liabilities Net	1	1	1	1	1	1	1	1	0	0	1	1
Other Liabilities Noncurrent	22	24	23	22	15	17	17	14	12	13	17	18
Liabilities	3,869	3,942	3,950	4,011	3,916	3,751	3,686	3,705	3,648	3,481	3,426	3,330
Partners Capital
Partners Capital	515	518	568	573	635	601	531	-	-	-	340	-
Partners Capital Attributable To Noncontrolling In…	-127	-143	-130	-146	-127	-88	-65	-89	-62	-23	23	78
Partners Capital Including Portion Attributable To…	388	375	438	427	508	513	465	442	403	382	363	445
Liabilities And Stockholders Equity	4,257	4,317	4,388	4,438	4,423	4,264	4,151	4,147	4,050	3,863	3,790	3,776
Limited Partners Capital Account Units Outstanding	-	-	208	-	-	-	218	-	-	-	226	-

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	-2.87%	-2.43%	5.26%	-	-	-	-	-	-	-	-	-
2025	-0.19%	4.02%	8.66%	0.36%	-14.74%	-17.59%	0.54%	2.66%	5.34%	3.72%	-0.79%	6.71%
2024	-0.03%	4.83%	7.36%	3.72%	-2.28%	-1.50%	7.75%	3.88%	17.36%	3.91%	-8.77%	-3.67%
2023	-	-	-	-	-	-	5.76%	5.10%	6.32%	4.75%	3.64%	5.93%
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Performance and Valuation Metrics

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Metrics	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Liquidity Ratios
Current Ratio	0.77	0.92	0.85	0.75	0.71	0.81	0.68	0.70	1.11	0.89	0.65	0.79
Quick Ratio	0.77	0.92	0.85	0.75	0.71	0.81	0.68	0.70	1.11	0.89	0.65	0.79
Working Capital	-46.80M	-15.40M	-28.80M	-56.10M	-62.60M	-36.00M	-69.90M	-66.70M	21.90M	-17.90M	-73.40M	-36.10M
Leverage & Debt
Debt to Equity	7.52	7.61	6.95	7.01	6.17	6.24	6.94	8.39	9.06	9.12	10.07	7.48
Interest Coverage TTM	4.48	4.49	4.47	4.52	4.51	4.45	4.55	4.48	4.56	4.57	4.56	4.67
Debt Ratio	0.91	0.91	0.90	0.90	0.89	0.88	0.89	0.89	0.90	0.90	0.90	0.88
Efficiency & Turnover
Asset Turnover TTM	0.37	0.38	0.38	0.37	0.37	0.37	0.38	0.37	0.37	0.38	0.36	0.35
Days Sales Outstanding TTM	31.90	32.12	31.46	30.96	28.89	31.80	31.54	31.36	27.93	30.97	33.28	35.36
Receivables Turnover TTM	11.44	11.36	11.60	11.79	12.63	11.48	11.57	11.64	13.07	11.78	10.97	10.32
Per Share Metrics
Diluted EPS TTM	-	5.42	5.56	0.56	0.52	1.20	2.51	10.90	10.55	9.96	10.79	-0.64
Free Cash Flow Per Share TTM	-	6.16	5.92	4.27	4.18	5.97	7.13	7.04	8.18	8.51	11.44	9.92
Dividend Per Share TTM	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Margin Metrics
Operating Profit Margin TTM	62.26%	62.08%	62.34%	62.12%	62.04%	61.55%	61.60%	61.00%	60.82%	60.88%	60.69%	61.59%
Net Profit Margin TTM	48.72%	43.12%	42.33%	4.57%	4.01%	8.75%	14.95%	69.77%	61.50%	53.63%	45.15%	-3.05%
Growth Metrics
Net Revenue Growth (1Y)	2.68%	7.03%	8.40%	10.77%	9.01%	8.71%	10.83%	11.39%	12.67%	10.36%	5.73%	2.24%
Net Income Growth (1Y)	1,148.41%	427.56%	206.86%	-92.74%	-92.90%	-82.27%	-63.29%	-2,646.48%	-1,803.47%	-1,461.64%	624.31%	-107.64%
EPS Growth (1Y)	-	352.02%	121.86%	-94.82%	-95.11%	-87.97%	-76.82%	-1,811.35%	-1,118.42%	-897.76%	432.28%	-105.38%
Valuation Metrics
P/E TTM	-	6.88	5.83	56.21	67.43	31.22	12.87	2.76	2.90	2.98	2.36	-36.14
P/B TTM	-	9.31	7.02	7.23	6.67	6.90	5.41	6.34	6.36	5.84	4.21	3.23
P/S TTM	-	2.97	2.47	2.57	2.70	2.73	1.92	1.93	1.78	1.60	1.07	1.10
Market Cap	-	4.82B	3.99B	4.14B	4.23B	4.15B	2.87B	2.80B	2.56B	2.23B	1.43B	1.44B
Enterprise Value	-	8.59B	7.76B	7.93B	7.94B	7.71B	6.34B	6.28B	5.92B	5.55B	4.64B	4.58B
Calculated Values
Free Cash Flow TTM	758.80M	795.80M	728.20M	555.80M	509.50M	660.60M	634.20M	654.90M	685.10M	639.00M	642.90M	619.80M
Net Debt	3.68B	3.77B	3.77B	3.79B	3.71B	3.57B	3.47B	3.48B	3.36B	3.32B	3.21B	3.15B
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
NCAV
NCAV Per Share TTM
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2025-08-12Sale

Owner: Gatling, John A.

Title: President and COO

Shares: 62,457

Price/Share: $41.59

Value: $2,597,593.28

Shares Owned: -

Relationship: Officer

Ownership: Direct

2025-06-09Sale

Owner: Schoonman, Geurt G

Title: -

Shares: 3,249

Price/Share: $39.10

Value: $127,055.06

Shares Owned: -

Relationship: Director

Ownership: Direct

2025-05-30Sale

Owner: Blackrock, Portfolio Mana…

Title: -

Shares: 15,022,517

Price/Share: $36.86

Value: $553,729,976.62

Shares Owned: -

Relationship: TenPercentOwner

Ownership: Indirect

2025-03-11Sale

Owner: Gatling, John A.

Title: President and COO

Shares: 2,087

Price/Share: $40.60

Value: $84,732.20

Shares Owned: 62,457

Relationship: Officer

Ownership: Direct

2025-02-19Sale

Owner: Blackrock, Portfolio Mana…

Title: -

Shares: 1,650,000

Price/Share: $39.11

Value: $64,531,500.00

Shares Owned: -

Relationship: TenPercentOwner

Ownership: Indirect

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2025-08-12	Gatling, John A.	Officer	President and COO	Direct	Sale	62,457	41.59	$2,597,593.28	0	4
2025-06-09	Schoonman, Geurt G	Director	-	Direct	Sale	3,249	39.10	$127,055.06	0	4
2025-05-30	Blackrock, Portfolio Mana…	TenPercentOwner	-	Indirect	Sale	15,022,517	36.86	$553,729,976.62	0	4
2025-03-11	Gatling, John A.	Officer	President and COO	Direct	Sale	2,087	40.60	$84,732.20	62,457	4
2025-02-19	Blackrock, Portfolio Mana…	TenPercentOwner	-	Indirect	Sale	1,650,000	39.11	$64,531,500.00	0	4
2025-02-12	Blackrock, Portfolio Mana…	TenPercentOwner	-	Indirect	Sale	11,000,000	39.11	$430,210,000.00	0	4
2024-11-11	Stein, Jonathan C.	Officer	Chief Financial Officer	Direct	Sale	7,923	35.32	$279,840.36	59,945	4
2024-09-20	Global, Infrastructure In…	Director,TenPercentOwner	-	Indirect	Sale	12,650,000	35.12	$444,268,000.00	0	4
2024-06-03	Gip, Blue Holding Gp, Llc…	Director,TenPercentOwner	-	Indirect	Sale	1,500,000	34.03	$51,045,000.00	0	4
2024-03-13	Gatling, John A.	Officer	President and COO	Direct	Sale	2,231	35.78	$79,825.18	56,732	4
2024-02-08	Gip, Ii Blue Holding, L.P…	Director,TenPercentOwner	-	Indirect	Sale	11,500,000	32.83	$377,545,000.00	0	4
2023-08-22	Global, Infrastructure Gp…	Director,TenPercentOwner	-	Indirect	Sale	1,500,000	28.59	$42,885,000.00	0	4
2023-08-17	Gip, Blue Holding Gp, Llc…	Director,TenPercentOwner	-	Indirect	Sale	10,000,000	28.59	$285,900,000.00	0	4
2023-05-19	Gip, Blue Holding Gp, Llc…	Director,TenPercentOwner	-	Indirect	Sale	6,382,500	26.12	$166,710,900.00	0	4
2023-05-19	Hess, Corp, Hess Investme…	Director,TenPercentOwner	-	Indirect	Sale	6,382,500	26.12	$166,710,900.00	0	4
2023-03-13	Gatling, John A.	Officer	President and COO	Direct	Sale	3,062	27.38	$83,837.56	49,809	4
2023-03-13	Stein, Jonathan C.	Officer	Chief Financial Officer	Direct	Sale	3,973	27.38	$108,780.74	43,197	4
2023-03-09	Gatling, John A.	Officer	President and COO	Direct	Sale	1,512	28.26	$42,729.12	45,090	4
2023-03-09	Stein, Jonathan C.	Officer	Chief Financial Officer	Direct	Sale	2,239	28.26	$63,274.14	39,389	4
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Institutional Ownership

No data available for chart

2026-03-31

87.48%

Inst. Shares: 113,027,238

Shares Outstanding: 129,200,000

2025-12-31

94.56%

Inst. Shares: 116,401,760

Shares Outstanding: 123,100,000

2025-09-30

88.38%

Inst. Shares: 115,152,719

Shares Outstanding: 130,300,000

2025-06-30

88.41%

Inst. Shares: 107,682,670

Shares Outstanding: 121,800,000

2025-03-31

94.73%

Inst. Shares: 104,863,413

Shares Outstanding: 110,700,000

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	113,027,238	129,200,000	87.48%
2025-12-31	116,401,760	123,100,000	94.56%
2025-09-30	115,152,719	130,300,000	88.38%
2025-06-30	107,682,670	121,800,000	88.41%
2025-03-31	104,863,413	110,700,000	94.73%
2024-12-31	91,636,311	89,000,000	102.96%
2024-09-30	89,701,786	93,000,000	96.45%
2024-06-30	79,399,115	83,800,000	94.75%
2024-03-31	65,699,513	75,100,000	87.48%
2023-12-31	55,851,825	56,200,000	99.38%
2023-09-30	53,092,954	62,500,000	84.95%
2023-06-30	42,693,941	50,100,000	85.22%
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Hess Midstream LP (HESM) — SEC Financial Statements & Analysis

Hess Midstream LP (HESM) is a crude petroleum & natural gas company, incorporated in DE. Hess Midstream LP trades on NYSE as: HESM. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), Hess Midstream LP reported a 2.68% year-over-year revenue growth, a Debt-to-Equity ratio of 7.52x, a Price-to-Sales (P/S) ratio of 2.97x (TTM), a Price-to-Book (P/B) ratio of 9.31x (TTM), at a market cap of $4.82B. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: 2.68%
Debt To Equity: 7.52x
P/S TTM: 2.97x
P/B TTM: 9.31x
Market Cap: $4.82B

Data as of 2026-06-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is Hess Midstream LP in?

Hess Midstream LP (HESM) operates in the Crude Petroleum & Natural Gas industry.

What is HESM's market cap?

Hess Midstream LP (HESM) has a market capitalization of $4.82B as of 2026-03-31.

What is HESM's P/E ratio?

Hess Midstream LP (HESM)'s trailing twelve month P/E ratio is 6.88x as of 2026-03-31.

What exchange does HESM trade on?

Hess Midstream LP (HESM) trades on the NYSE.

Where is Hess Midstream LP incorporated?

Hess Midstream LP is incorporated in DE.